NYC’s Most Expensive Neighborhood for 2017 Revealed

TriBeCa is still the most expensive residential neighborhood in New York City in 2017, with a median sale price of $4,683,950 — up 12% compared to this time in 2016, according to new data from PropertyShark.

New luxury condominium developments distort the numbers in many neighborhoods. Prices rose 19% in the Manhattan’s Flatiron District, thanks in part to developments like Madison Square Park Tower and 55 W. 17th St. (Because of these sales, Flatiron was the most expensive residential neighborhood in the third quarter, according to PropertyShark.)

Sales at new condo towers also pushed up average prices in Central Midtown and Brooklyn’s Boerum Hill and Red Hook neighborhoods. Of the 249 transaction that closed in Boerum Hill in 2017, 130 closed at The Boerum, where units sold at a median of $1.78 million.

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